Latest Carriers Headlines
All the headlines from our Carriers Topic Page, ordered by recency.
Puerto Rico Reforms Claims, Surplus Lines, Other Insurance Laws
Nov 29 2018 // The governor of Puerto Rico overhauled the U.S. territory’s insurance laws on Tuesday to help protect policyholders as thousands of claims remain unresolved more than a year after Hurricane Maria. Gov. Ricardo...
How Insurer Deployed Technology to Expedite Wildfire Claims
Nov 29 2018 // As wildfires raged this month in California, insurance claims experts at Travelers sat in a command center 3,000 miles (4,828 kilometers) away in Connecticut, monitoring screens showing satellite images, photos from...
Markel International to Partner with Yacht Insurer Pantaenius
Nov 28 2018 // Markel International, the specialist insurer, will partner with Pantaenius GmbH, the European yacht insurance provider, to strengthen and broaden the capabilities and services that together they provide their clients...
Florida CFO: Insurers Must Step Up Response to Hurricane Michael Claims
Nov 28 2018 // Citing a “troubling” number of Hurricane Michael-related consumer complaints and claims denials, Florida’s top financial regulator is urging insurers to respond more quickly and adequately to consumers...
CLO Fever: Small Insurer Bets Big on Booming Leveraged Loan Market
Nov 27 2018 // Advantage Insurance of San Juan, Puerto Rico, is no one’s idea of a financial colossus. But this little insurance company is making a giant bet on some of the hottest investments around: collateralized loan...
North Carolina School System, Insurer Settle for $1.5M With Woman Who Lost Leg in Fall
Nov 26 2018 // A North Carolina school system and its insurance carrier have agreed to pay $1.5 million to a woman whose left leg was amputated after she fell at a school in 2015. The News & Observer of Raleigh reports Karen Clark...
Judge Nixes U.S. Suit Against Malaysia Airlines, Insurer Allianz Over Plane Disappearance
Nov 25 2018 // A U.S. judge has dismissed nationwide litigation over the disappearance of Malaysia Airlines Flight MH370 in which victims’ families sought to hold the carrier, its insurer Allianz SE and Boeing Co. liable for the...
SCOR Launches Paris-Based P/C Specialty Insurer to Ensure Post-Brexit Continuity
Nov 22 2018 // SCOR announced the formation of SCOR Europe SE, a Paris-based P/C specialty insurance company, to ensure the continuity of services after Brexit. With effect from Jan. 1, 2019, SCOR Europe SE, a fully owned subsidiary of...
A.M. Best Discusses What’s Ahead for UK Insurers as Brexit Deadline Looms
Nov 21 2018 // When the UK withdraws from the EU, and at the end of any transition period, passporting rights that currently exist between the UK and countries in the European Economic Area (EEA) are expected to cease, said A.M. Best in...
Court: Travelers Insurer Off the Hook in Florida Hotel Chain Data Breach Suit
Nov 21 2018 // A U.S District Court in Florida’s ruling could have wide-reaching effects with respect to an insurer’s duty to defend commercial general liability policyholders in data breach cases resulting from the acts of...
A.M. Best Assesses Wildfires’ Effect on Home Insurance Market, Insurers’ PG&E Exposure
Nov 20 2018 // Roughly one-in-10 insurers have exposures to PG&E bonds, which could potentially used to payout on losses from the California wildfires, according to ratings agency A.M. Best. It was recently determined that a second...
Report Identifies P/C Insurance Companies with Best Reputations
Nov 20 2018 // USAA Insurance has the highest and best overall reputation among insurers, according to a new report from the Reputation Institute. The insurer landed in the top spot based on criteria including strong reputation,...
School’s Insurer to Cover Michigan Runner’s $4.5M Injury Lawsuit Settlement
Nov 19 2018 // A runner who sued his Michigan high school cross-country coach after he was severely injured during a dark early-morning practice has settled the case for $4.5 million. In 2011, Kersch Ray was a 13-year-old member of the...
Texas’ Hochheim Mutual Insurers Removed From Credit Watch Negative
Nov 19 2018 // S&P Global Ratings has removed Texas-based Hochheim Prairie Farm Mutual Insurance Assn. (HPFMIA) and its subsidiary, Hochheim Prairie Casualty Insurance Co. (HPCIC, collectively Hochheim) from Credit Watch Negative,...
China Eyes Allowing Foreign Insurers to Own Local Joint Ventures: Sources
Nov 19 2018 // China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge...
Medical Professional Liability Insurers Post Underwriting Loss Again
Nov 19 2018 // U.S. medical professional liability insurers reported an underwriting loss again last year, according to Fitch Ratings in a new report that says the results are drawing more scrutiny around reserves that are shrinking. For...
What Agents Should Know About Cryptocurrency Insurance Market
Nov 19 2018 // Powered by InsuranceJournal.tv Cryptocurrency and blockchain entities may seem like a hot market for insurance agents looking to specialize, but right now there are not many insurers willing to write it. Before jumping in,...
Markets
Nov 19 2018 // Fire Protection Contractors Market Detail: McNeil & Co.’s FireWatch Program (www.mcneilandcompany.com) is a comprehensive insurance and risk management program. The program offers specialty insurance products to...
S&P Says Insurers and Reinsurers Can Absorb Losses from California Wildfires
Nov 16 2018 // S&P Global Ratings expects both the primary insurers and reinsurers to be able to absorb losses from the California wildfires, limiting them to an earnings event. However, the mounting bills from more frequents large...
Insurance Industry Kept Promises to Hurricane Victims; Now Tested by Wildfires
Nov 16 2018 // Between the devastating wildfires in California and the destructive forces of Hurricanes Florence and Michael on the East Coast earlier this fall, the property/casualty insurance market has been put to the test this...
